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Nigeria to Concentrate on Mining to Boost Economy

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Nigeria to Concentrate on Mining to Boost Economy


congo-miningNigeria to concentrate on Mining to boost Economy

Nigeria is set to improve its mining division with a specific end goal to boot investment.

This is in an offer to decrease over dependence on the oil part which gives 70% of government incomes, yet a slump in crude prices has pushed Nigeria into recession.

The Mining Minister, Kayode Fayemi says that Nigeria has largely untapped deposits of 44 minerals, which include gold, iron ore, coal, tin and zinc, in more than 500 locations spread across the nation.

The west African economy has been attempting to attract foreign mining firms. As of now, the only significant foreign investor in the sector, where 80 percent of mining is carried out on an artisanal basis, is Australia’s Kogi Iron.

At present, mining accounts for just 0.3% of the country’s GDP but Nigeria hopes that the sector will contribute up to 10 % of the GDP over the next decade.

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Possible WilsonAdukpe GloriaAnthony DugbochiboyChigozie obasi Recent comment authors
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Chigozie obasi
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Chigozie obasi

So there eyes have open,thank God

chiboy
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chiboy

That’s it na

chiboy
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chiboy

Better… Now we want to look down on our resources for help right… Lol

Anthony Dugbo
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Anthony Dugbo

The should better start now!

Adukpe Gloria
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Adukpe Gloria

Na now dey break, this natural resources been dere dey didn’t think of using it to boost the country’s income, dey were just concentrating on oil now oil business has crash dem dey reason untapped natural resources. Nigeria govt receive sense ijn

Possible Wilson
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Possible Wilson

Lol ah wish them all the best…

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